Moody’s Investors Service lowered the outlook on China’s credit rating on Wednesday from stable to negative. The reasons for the cut include the Chinese government’s lack of reforms needed to fix the country’s weakening economy. This has led to the outflow of foreign capital and a decline in China’s foreign exchange reserves.
Moody’s senior vice president Marie Diron confirmed China’s long-term credit rating of Aa3, the fourth highest investment grade. China’s credit strength comes from its large economy. The nation’s growth is also still higher than that of most of its peers.
Source: pinggu.org
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Keywords: China Credit Rating Moody’s Investors Services Moody’s
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